Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN: 9781337395083
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
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Financial Accounting

The Absolute Zero Co. just issued a
dividend of $3.20 per share on its
common stock. The company is expected
to maintain a constant 6.6 percent
growth rate in its dividends indefinitely.
If the stock sells for $64 a share, what is
the company's cost of equity?
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Transcribed Image Text:The Absolute Zero Co. just issued a dividend of $3.20 per share on its common stock. The company is expected to maintain a constant 6.6 percent growth rate in its dividends indefinitely. If the stock sells for $64 a share, what is the company's cost of equity?
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Intermediate Financial Management (MindTap Course...
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ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Cengage Learning